Madrid, October 31st, 2025 - Klecha & Co., an independent pan-European investment bank specialised in the tech sector, assisted Full on Net's shareholders as financial advisor in the sale of 100% of their shares to Sword Group, a global player in digital transformation with more than 3,500 IT and digital specialists operating across 50+ countries. Sword shares are listed on the Paris Stock Exchange.
Founded in Madrid in 2001, Full On Net is a technology consulting firm recognised for deep expertise in data science, artificial intelligence, and social network analysis. Over the years, the company has developed a strong positioning in the Spanish telecom and insurance sectors, thanks to a highly skilled team and a strong culture of innovation and agility.
Following the acquisition Full On Net will be integrated into the Sword brand, enabling the company to expand its service offering and client base while benefitting from Sword’s global scale and capabilities. The transaction is expected to contribute €15 million in revenue to Sword in 2026, with an EBITDA margin of approximately 11.5%.
For Klecha & Co., today’s announcement marks the 11th transaction in the IT Services sector, confirming the firm’s strong specialisation and unparalleled expertise in European tech M&A. The advisory team continues to strengthen its presence in key innovation hubs across Europe, supporting entrepreneurs, founders, and investors in high-growth technology businesses.
Klecha & Co. advised the selling shareholders of Full on Net with a team led by Pedro García, Head of the Madrid office at Klecha & Co., who commented: “"Spain continues to consolidate its position as one of Europe’s fastest-growing and most dynamic markets for technology M&A. In the first nine months of 2025, the country recorded more than 230 technology transactions, and the Spanish IT services market is set to reach €28.94 billion in 2025, highlighting the sector’s significant scale and growth potential. In this context Madrid is emerging as a strategic hub for international acquirers seeking high-quality engineering talent and strong nearshoring capabilities. The sale of Full On Net reflects this trend and underscores the growing interest from global digital transformation groups aiming to strengthen their footprint in Spain."